7 Sources Of Business Ideas and 101

How To Discover A Winning Business Idea

Business ideas are all around you. Some business ideas come from a careful analysis of market trends and consumer needs; others come from serendipity. If you are interested in starting a business, but don't know what product or service you might sell, exploring these ways of getting business ideas flowing will help you choose.

1) Examine your own skill set for business ideas.

Do you have a talent or proven track record that could become the basis of a profitable business?

The other day I spoke to a man who had spent years managing cleaning services at a hospital. Today he runs his own successful domestic and business cleaning service. An ex-logger I know is now making his living as an artist; he creates "chainsaw sculptures" out of wood. And the examples of professionals who have started their own agencies or consulting service businesses are legion.

To find a viable business idea, ask yourself, "What have I done? What can I do? Will people be willing to pay for my products or services?"

2) Keep up with current events and be ready to take advantage of business opportunities.

If you read or watch the news regularly with the conscious intent of finding business ideas, you'll be amazed at how many business opportunities your brain generates. Keeping up with current events will help you identify market trends, new fads, industry news - and sometimes just new ideas that have business possibilities.

For instance, same-sex marriages are now legal in Canada. There are now also entrepreneurs who are selling tourist travel packages that include a marriage ceremony to same-sex couples from other countries. Would you have identified that business opportunity when you heard that the Canadian marriage laws had changed?

3) Invent a new product or service.

Think back 30 years ago. Was there a huge demand for anti-virus software, Internet Service Providers, or desktop computers? No! The key to coming up with business ideas for a new product or service is to identify a market need that's not being met. The clamor for ever-increasing security, for instance, has led to an explosion of new security products and services, ranging from iris-recognition machines through home security services.

Look around and ask yourself, "How could this situation be improved?" Ask people about additional services that they'd like to see. Focus on a particular target market and brainstorm business ideas for services that that group would be interested in. For example, there are millions of aging gardeners across North America. What products or services could you create that would enable them to garden longer and more easily?

4) Add value to an existing product.

The difference between raw wood and finished lumber is a good example of putting a product through an additional process which increases its value, but additional processes are not the only way value can be added. You might also add services, or combine the product with other products. For instance, a local farm which sells produce also offers a vegetable delivery service; for a fee, consumers can have a box of fresh vegetables delivered to their door each week.

What business ideas can you develop along these lines? Focus on what products you might buy and what you might do to them or with them to create a profitable business.

Keeping up with current events will help you identify market trends, new fads, industry news - and sometimes just new ideas that have business possibilities.

For instance, same-sex marriages are now legal in Canada. There are now also entrepreneurs who are selling tourist travel packages that include a marriage ceremony to same-sex couples from other countries. Would you have identified that business opportunity when you heard that the Canadian marriage laws had changed?

5) Investigate other markets.

Some business ideas aren't suited to local consumption - but appeal greatly to a foreign market. My own little town is surrounded by acres of wild blueberries. For years the bushes produced berries that mainly fed bears and birds; B.C. has a thriving blueberry industry that doesn't leave room for a wild blueberry market. But one entrepreneur realized that there is a high demand for products such as these in Japan - and those same wild blueberries are now being harvested and shipped. Finding out about other cultures and investigating other market opportunities is an excellent way to find business ideas.

6) Improve an existing product or service.

You know what they say about the person who builds a better mousetrap. That person could be you! A local entrepreneur has created an improved version of the hula hoop; it's bigger and heavier so hula-hoopers can control it more easily and do more tricks. How did she come up with this business idea? She thought hula hooping would be a fun thing to do with her daughter, but found the commercially available product too flimsy.

There are very few products (or services) that can't be improved. Start generating business ideas by looking at the products and services you use and brainstorming ideas as to how they could be better.

7) Get on the bandwagon.

Sometimes markets surge for no apparent reason; masses of people suddenly "want" something, and the resulting demand can't be immediately met. For example, during the SARS epidemic, there was an insatiable demand for facial masks in several countries - and many entrepreneurs capitalized on this business idea.

A "bandwagon effect" is also created by larger social trends. There is much more of a demand for home-care services for the elderly than is currently being supplied. And the trend for pets to be treated as family members continues, creating demand for all kinds of pet-related services that didn't exist even ten years ago.

Look at existing businesses and the products and services they offer and determine if there's a need for more of those products or services. If there is, develop business ideas to fit the market gap.

Are you brimming with ideas for starting a business now? Write your business ideas down. Let them swirl around in your head and coalesce. And keep an open mind and continue to assess everything you read and hear from an entrepreneurial point of view. You don't want to run with the first business idea you think of; you want to discover the idea that's best suited to your skills and desires. Dream, think, plan - and you'll be ready to transform that business idea into the business you've always wanted.

Business 101

Online business is not so different from any other sort of start-up venture; the same principles apply. Think about what makes an ¡°offline¡± business successful, and then analyze your Web business in the same way. To get you started, I've outlined some of the essential steps you'll need to take.

This Online Business site is organized along the same lines, so you can get additional information on any of these steps when you need it.

Determine your Business Model
Just as in an offline business, you'll have to figure out how to make money. It will help if you create a business plan, and consider what other successful online businesses are doing. Some options include:

1. extend your existing ¡°brick-and-mortar¡± business online
2. sell products
3. sell services
4. sell information
5. sell advertising
6. become a reseller

Consider your competitive advantage.

Find a Good Name
Offline, a good name is usually short, easy to remember, and reflects your business in some way. It's the same in the online world. Your domain name is how you'll be known on the Web. Customers will have to remember it, spell it correctly, and type it into their Web browsers. Good domain names are memorable, short and easy to spell, and usually reflect your business purpose. (There are a lot of exceptions to the latter rule: think eBay and Yahoo!).

Build an Effective Store
Think of an effective offline store: it is attractive, projects the right image, and is easy for customers to find what they want. Make sure your online store has the same qualities. It should be easy to navigate, with a good search function. The design should reflect the image you're trying to project: professional, hip, up-scale, etc. Good offline stores also offer easy check-out, accept credit cards, and have a good return policy.

Rent from a Reliable Landlord
You wouldn't want your offline store to lose sales because it was frequently closed for repairs, would you? Choosing the right Web host for your site is like renting from a reputable landlord. A good Web host offers uptime guarantees (always open), can handle a lot of traffic (customers), responds to your questions quickly, and offers the services you need.

Spread the Word
A store on Main Street is guaranteed at least a little foot traffic. An online venture might get a few walk-ins as well. But to guarantee traffic, you have to do some marketing. Online, you can spread the word in a variety of ways:

1. Submit to Search engines
2. Pay for Search-Engine placement
3. Exchange links with other sites
4. Advertise
5. Use e-mail (don't SPAM!)
6. Develop a PR strategy
7. Use promotions

Get Paid
Just like a real store has ¡°back-end¡± systems in place, an online store needs mechanisms to accept credit cards and process orders. To automate even more, you can also integrate your online store with accounting, inventory, and fulfillment systems.

Make Your Customers Happy
Successful shops have great customer service. An online store can keep its customers happy by offering lots of online information, answering inquiries promptly, shipping quickly, and providing for easy returns.

Refine and Improve
Good offline stores are constantly evaluating their performance and trying new approaches. They rearrange merchandise, design new window displays, calculate profit per square foot, and count foot traffic. Make sure you do the same for your online venture. Use statistics programs to find out where your customers come from and what they do on your site. If you advertise, make sure you test ads and measure their effectiveness.

Home Working
http://www.homeworking.com
This site is for anyone wanting to work at home and anyone already working at home. You will find lots to get you started, help you find work at home and avoid scams.

Visit http://www.homeworking.com

Telework Association
http://www.tca.org.uk
TCA is Europe's largest organisation dedicated to the promotion of teleworking. Over 2,000 people and organisations have joined them since they started in 1993. The TCA believes that teleworking can benefit people by increasing the quality of life and improving access to work.

Visit http://www.tca.org.uk

Freebies4ya
http://www.freebies4ya.com
There are NO get rich quick "For Real" jobs you can find off the internet! But there are some ways to earn extra money that are legit and mostly fun to do! You'll find these ways listed here!

Visit http://www.freebies4ya.com

Paydotcom
https://paydotcom.com
Congratulations! You¡¯ve been searching for a way to make more money, and now you¡¯ve found it. Promote products in our  marketplace and earn commissions as a PayDotCom affiliate. Our members area will allow you to track stats such as clicks, sales, and conversions.

Visit https://paydotcom.com

cj.com
http://www.cj.com
If you are interested in launching an affiliate marketing program with Commission Junction, you will need to complete our request form, which will be reviewed by our sales department. For more information, please use the following link.

Visit http://www.cj.com

work-at-home-company Newsletter